HERBALIFE LTD. INDEPENDENT DIRECTORS STOCK APPRECIATION RIGHT AGREEMENTIndependent Directors Stock Appreciation Right Agreement • May 5th, 2015 • Herbalife Ltd. • Wholesale-drugs, proprietaries & druggists' sundries
This Independent Directors Stock Appreciation Right Agreement (this “ Agreement ”) dated as of February , 20 (the “ Grant Date ”) between Herbalife Ltd., an entity organized under the laws of the Cayman Islands (the “ Company ”), and [DIRECTOR] (“ Participant ”).
